The day ahead and key events – Rabobank

By FXstreet.com | August 05, 2014 AAA

FXStreet (Guatemala) - Analysts at Rabobank highlight the next key events for the trading day ahead.

Key Quotes:

“Today begins with German factory orders, seen up 0.9% MoM after a -1.7% slump last month. However, in YoY terms that is an increase of just 1.1%, down from 5.5% in May – though this is a very choppy series and the YoY 12MMA is still trending upwards”.

“The UK has yet another in its constant stream of house price surveys today (surely there must soon be a smart-phone or tablet app that lets you know in real time exactly how much more richer/unable to buy a home you are minute by minute? The demand certainly seems to be there for it): Halifax house prices are seen up 0.4% MoM and 9.6% YoY 3M/3M, up from 8.8% in June, in contrast to other surveys suggesting that price-growth is moderating. There is also UK industrial production, also seen bouncing 0.6% MoM after the -0.7% slump in May, though still up only 1.5% YoY regardless. When might we see the day that UK industrial production is growing faster in YoY terms than house prices, one wonders?”

“The US has trade data for June, expected at a deficit of USD44.8bn, little different to May. Any big surprises there will see Q2 GDP being revised: will we see the 4% bounce reversed or strengthened further? The latter would arguably trigger the stronger response given recent market actions”.

“Given the relative paucity of key data today, markets will once again be looking at the tense Russia-Ukraine situation”.

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